“This new component of our sustainability strategy makes good business sense,” said Fred Festa, Grace’s chairman, president and CEO. “Clearly, this is a stretch goal, but I am convinced the drive to achieve it will make us more innovative, more efficient and enhance our stewardship of the environment.”
Grace will use 2007 as the base year against which it will measure progress. In that year, it produced nearly 2 million tons of products and had carbon dioxide equivalent emissions of 1.1 million tons.
The company filed for Chapter 11 protection in 2001 after continuing litigation and liabilities over alleged asbestos contamination, The company has been seeking permission to put its restructuring exit plan in place to come out of bankruptcy, The Wall Street Journal reports.